will look at what a disaster that is shaping up to be. melissa: research in motion second quarter results. do not get too excited. they did still lose money. blackberry shares are still down from the record high. lori: apple is "extremely sorry." the fallout from the new map app. stocks now as we do every 15 minutes. big move here to the outside, but still low on the our. nicole: we had a stress test for the banks over in spain. as a result, you are seeing the dow down 46 points. you are talking about how we have been up. since last october, right, last

halloween, every single month for the dow has been a winning month except for one exception, mate of 2012. that would include this one as well. we closed in august at 30,090. some of the names that have done well would include bank of america, ge, jpmorgan, those are some of your best. microsoft and intel have come under some tough stuff. melissa: discussing a number of topics on domestic and global markets. voting on approval of the 2013 budget. >> we were expecting for them to know which companies were systemically important. they would be subjected to greater regulation.

that is not having today, according to a spokesperson. the counselor will undertake further analysis of these companies. it does not intend to publicly announce the name of any non-bank financial company that is under evaluation before a final designation of such company. we are not getting the names today. the f -- fsoc was supposed to give us names, but we did not. melissa: who has been tapping them for money. >> the results to that one, a bank in maine borrowed a few days with a vote of $70 million in august of 2010. those are the largest loans for the third quarter of 2010.

this is the first release of this type of information under the dodd-frank law. we first reported tens of billions of dollars to european banks. this from the third quarter of 2010 shows a much different economy. back to you. melissa: interesting. thank you so much for the six a headline that generated all kinds of surprises. apple apologizing for it map app. the ceo tim cook says the company is doing everything it can to make maps better. you can use alternatives by downloading maps. what? melissa: that is crazy. that is like we have a problem with our signal, please go over to our competitor.

lori: silence, i think says more. dennis: remember when they had the intended debacle. not admitting anything was wrong with it and people were getting more and more frustrated. lori: that is a good point. i think charlie gasparino is standing by with his latest report. inc. of america, i guess this is more interesting to charlie, at least. the bank with a 3.5 million in charges. bank of america says this is not an admission of guilt. the settlement was reached to eliminate the uncertainties. melissa: the latest news from bank of america that pain is still being felt from the collapse of 2008.

charlie gasparino is first to report on thain. charlie: he cannot sell it. why can't he felt it? cit is a pretty risky operation. the banks are under regulation by the fed. they cannot really fit. cit, let's go through a little history. it is very controversial. it went belly up or with heading towards belly up during the financial crisis. received a $2.3 billion bailout good then filed bankruptcy. then they screwed the taxpayers.

john thain took it over after that when he left merrill lynch. he is not trying to sell it. he cannot sell it. what he did yesterday, this is a game of cat and mouse, when you tell everybody you want to sell something, they think you are desperate. he did this to a pretty compliant media outlet. specifically to a reporter. this is his go to person, essentially. he said, listen, we are not for sale, we are not that desperate. what i can tell you is this, wall street thinkers say he was shopping, is shopping, he is having a difficult time doing it for all of those reasons. cit is on a restricted list. he has some issues. we should give a little background on who this guy guy is. he was part of the group that

got rid of john corzine. he was a good friend of his beard he joined hank paulson and john thorton. one of the interesting things he did right after he did after going to the new york stock exchange, he took down every single picture of growth -- grosso. john thain took down those iconic photograph. he then went to merrill lynch. again, very controversial. i would say he did some stupid stuff. when merrill lynch needed more capital, it was obvious that they were looking to make deals to get them more capital. he would say things are not so

bad. he would spell the notion. when the firm fell into bankruptcy, it was bought by bank of america. guess what happened, he went out and try to pay himself a $10 million bonus. that was shot down. heavily criticized. guess what he did after that, disclosure. he redid his office with a $35,000 toilet. the eighth charlie gasparino thank you. everyone needs one. melissa: amazon is going back into the wine business. lori: let's look at metals as we go to break. gold is down. silver about to how to gold.

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melissa: loyal holding his ground after a three day losing streak.

it is not paramount option? >> it is still paramount. melissa: great to have you on. one of the smartest guys down on the floor. what are you watching today? >> we are watching our bob. they move late in the day. melissa: what is the number one thing you are trading off of? i was surprised to see the bounce off yesterday. he has this date forward with a bomb on it. on the floor of the imax, that is something you would stop and watch. i was wondering, you know, what is the number one factor that you are trading off of? international, dollar, stocks? >> everyone knew that the prime minister would speak yesterday. that is probably help that

rebound. i can say that rbob probably had something to do with that. instead of going into the future market, the ponds or hedging, if you will, have gone on. melissa: what does that mean to you? >> people are fearful of the upside. the supply shock if something does happen in the middle east. then, of course, we focus on inventory numbers, the dow, precious metals and all of that. certainly, the upside is what people are really really focusing on. melissa: real quick, we are looking at this chart of rbob thanks to you which has really

been on fire. what is your prediction? >> . is a double whammy on the rbob. it is low inventory levels. it has been very strong. they have been building and on their highs. this series of highs and their maintenance schedules that have been coming out over the last few days have exacerbated that. it has been on a pierced, pierced the front. melissa: thank you so much. thank you so much for your time. lori: as we do every 15 minutes, let's check the stock market. nicole petallides. nicole: not too bad here as we are wrapping it up. we were down 100-point and we have seen some improvement now after the news from the spanish

banks. we want to take a look at some of the names on the move. finish line. macy's says they will open 450 finish line shops. this is exactly what we have been hearing about the other department stores talking about opening shops within shops. sometimes they do very well. that seems to be the trend lately. all of them trying to take one another on in order to do that. finish line came out with the numbers and talked about the fact that they were looking good. they talked about running season and basketball sneakers doing well. they were up about 90%. that is finish line and macy's for you. let's take a quick peek at nike. they finished their second straight quarter of declining profit. that was not good for them. they talked about china and that pressure. lori: thank you, nicole.

melissa: the affects of the big drought lingering over 65% of the u.s. they are experiencing some sort of dropped. that is coming up next. lori: let's check out the dollar is faring against the other major currencies of the world. back with more after this. ♪ 4g lte has the fastest speeds.

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♪ >> at 21 minutes past the hour, i have your fox news minute. connecticut state police say it will probably be a week before they are done investigating the shooting of a teenager by his father. it happened outside of a neighbor's house. police are trying to figure out if the gun used by the father was registered. the suspect involved in a deadly movie theater shooting reportedly -- there is going to

be a little something new for a dallas cowboys fan on sunday. victorious secret or open a store at cowboys stadium featuring lingerie and other clothing. they say it is the first time the company has opened a store at a professional sports venue. there are your news headlines. melissa: a video of the stadium. everyone here in the studio, all the guys on the floor, appreciate we used that video. i do not know why we picked that video. online retailing giant amazon looking to get into the wine business. adam shapiro joins us now with this saucy report.

tough assignment there, adam. >> apparently, amazon.com will try to create a marketplace where you can purchase one online. they do a lot of product shipping. this would be more of a coordination with wineries and it would be up to them to ship. they account for about 1% of total wine sales. it is very difficult to order line that is mailed to you in new jersey. in new york, you can get it good you can have it delivered to work, just make sure you open the box for security. amazon will do this. they will charge 15% commission and a $40 a month fee to take part in it. lori: wow. good information. melissa: when exactly does this

start, adam? i need a lot more information on ordering wine on amazon. >> amazon is not up yet. melissa: adam, thank you. lori: there is some good news coming from the blackberry maker. the stock is actually up, big. it is still not that strong. activist shareholder joined us after the break. ♪ melissa: take a look at some of today's winners and losers here as we head out to break. we will be right back. ♪

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lori: just about half past the hour. let's get an update on the stock market with nicole on the floor of the stocks exchange. the dow down 41 points, really clawing its way back but i wonder if it is held down by pretty poor, bad economic news, mainly consumer confidence, mcdonald's a specific drag as well. >> that's right. all of those things factor into this kind of day. one thing you should keep in mind today, folks, today is the end of the month and also the end the quarter. sometimes you see a little action going into the closing bell. we'll continue to watch. also ahead of a weekend. the vix, the fear index, is to the upside. i want to look at dow jones industrials up 42 points, off the lows we saw earlier when we were down triple digits and looking at mcdonald's.

mcdonald's comes in as a concern because janney capital cut it to neutral rating. they question couple things that come into play. they're calling it a evaluation call. they're saying comps they're seeing, sales for first few weeks in september are terrible. the worst of the year for mcdonald's. on the other hand, they're saying big picture that they are doing well with low value menus and trying to get the traffic in there. big picture, if you have a stronger dollar don't bode well for global move for some of these multinationals. we heard nike talking about growth concerns over in china. that would be something that would hit mcdonald's. this janney call does pull it back. melissa: big move. nicole, thank you so. research in motion surprising the street. the blackberry maker reporting a net loss in the second quarter but results not quite what wall street was expecting and stock is soaring on the news. our next guest says now is not the time to get carried

away with excitement on rim. we have activist shareholder from jaguar financial. nick, thanks so much for joining us. start out with the basics. a lot of exuberance over the results. you say don't get crazy. >> absolutely. there is a lot to be done here. this is the first step. they can step up the ladder a little bit and see daylight in emergence of the bb-10 platform. bottom line there is a lot to do. cash was up. that is all very good but they haven't spent anything on inventory. that inventory build, if they're looking at 15 million units at 250 per, you're talking about $3.75 billion. they will start to get into the working capital cycle. they have also got to pay another 260 million in severance. only paid 93 million in this quarter. they're not out of the woods yet and a lot to be done. melissa: not by a longshot. >> the bottom line the company has no product. the company is losing money. melissa: drill down on some of the details there because

there was a lot in that. one. biggest concerns as you said was the cash position, how much cash they had on hand and if they were burning through it because they aren't after all making a profit right now. they have 2.3 billion. that was good. you're talking about controlling costs. reuters was reporting they may lay off as many as 6500 people. that's a step in the right direction, right? >> absolutely. this has been a massive operational restructuring. huge downsizing. they have been selling a lot of manufacturing plants which makes a lot of sense. they have had four million square feet of owned real estate which they're downsizing. as you know they have over 20,000 employees and, initially was 5,000. could be 6500. could even be more. they certainly have to downsize to become a much leaner organization with not as much alternative hand-sets. they have to reduce the number, they have to have a high entry and ultimately a low entry phone. melissa: yeah. >> and get really, really focused and streamlined. melissa: i thought it was really interesting that the

canadian finance minister spoke out on rim saying it was an important canadian company, hoping that it is going to succeed in restructuring. can you imagine the finance, anyone, you know the treasury secretary or something here in the u.s. talking about one specific company? that was strange, right? >> well, you know, i will say that the prime minister is had musings about the fact that we have become a little xenophobic and we don't want a nonresident acquirer of rim. i was quickly dismissed by the finance ministers subsequent to stephen harper speaking out. that is why they're in the news. bottom line if the company is testing survival there is no question that microsoft can jump in and buy the enterprise business. so can ibm we're not going to stand in the way as a country towards trying to save what is still the greatest or biggest technology. melissa: so what is the barrier to that happening? because obviously, and say this all the time, this company is hemorrhaging. you've seen the stock drop

94, 95%, whatever it is from its all-time high. at the same time the device is ubiquitous in a business setting. for regular people on the street you see them with iphones. even people at work that have iphones still have a blackberry to do e-mail with each other. there is still huge value there. how does the company unlock that. >> that is the key. you hit the nail on the head. the core competency of the company are really like dinosaurs like myself. melissa: and myself. >> we're not cool and savvy. we're very focused on e-mail, memo pad, the calendar, a phone. what we're dying to have is better and faster download attachments and also access to the web. melissa: yeah. >> which this phone does not have. you correct the two things. there will be a lot of dinosaurs like myself be very, very happy. but going to your earlier question, how do you unlock that value even better and what gets in the way of doing so? it is the board unfortunately. we have a clubby toronto

oriented board. the chair is weak. she is not a driver. you have to drive this m&a and strategic review process. you have to have a backup plan if the bb-10 phones don't become a shoot the lights out scenario. if it is shoot the lights out everybody's happy, stock goes to maybe even 15, $20. it is ho-hum or a disaster in either of those two cases of course rim is a disaster and the stock goes way down. melissa: it will be so interesting to see where this goes from here. i think for decades this will be a business school case study when you a see a company that was so dominant and lost so much ground. now you see what happened. vick, thanks for coming on. always appreciate your insights. >> my pleasure. >> new budget coming out of france calling for 75% tax rate on its top earn he is. 75%. i immediately thought could that happen here? we'll talk about that next. lori: a lot of people argue we're heading in that

direction. melissa: feels like it. lori: talking about the problems in europe, you had spanish yields way up again today. so that sent investors into the perceived security of u.s. government debt. so bond yields here are down slightly. 1.65 on the 10-year. on the 30-year note you're looking at a yield of 2.83%. we're back after this [ female announcer ] they can be enlightening. hey, bro. or engaging. conversations help us learn and grow.

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your fox business brief. bank of america reached a settlement in the merrill lynch acquisition related class-action lawsuit. under the terms of the settlement the banking giant will pay $2.4 billion and institute certain corporate governance policies. the results are in from the spanish bank stress tests meanwhile. in a worst case economic scenario the banks would need 76 billion u.s. dollars in additional capital to maintain healthy levels in a time of crisis. the test also showed seven of the country's 14 banks would not need more money. the u.s. postal service says it will default on a $5.6 billion payment sunday. it will be the second time in as many months that the agency failed to fund health care costs for future retirees. can't miss a payment. that missed payment will not immediately impact postal service operation. so you will get your mail. that's the latest from the fox business, giving you the power to prosper

lori: get this. in a bid to fix the country's fiscal house, french president francois hollande unveiled a budget that will raise the top income tangs rate for top earners to 75%. melissa: what? lori: you can't say that. why stay in france? will this do anything to rein in the country's deficit? could the u.s. ever go this far to raise revenues. here to weigh in, curtis dubai, senior policy analyst at the heritage foundation. you heard our shock and awe. record unemployment in france, barrage of data to economic stagnation. how could this tax rate not be devastating? >> doubt it will be. we should be grateful to france showing the folly of raising taxes that you confiscate three quarters of the income created by job createtores and income earns. it will be just as bad here

if we go down that path. lori: greatful to france but a lot of people are hoping we'll go down that path. i mean we're at 35% individual income tax rate, curtis. again a lot of people are fearful if obama wins re-election that is the path we're headed on. what do you expect to happen to tax rates if he is reelected? >> you know, president obama does want to raise taxes. i don't think we'll ever go back to rates in the 70s of 75%. we've been there, done that. i don't think we'll go back to level. however president obama wants to raise them from 35% today to above 40% starting next year. that would slow the economy. it would reduce job creation and keep us stuck in the low growth, high unemployment environment we're at right now. lori: just for my background sake here in the u.s. we're at about 1% expansion rate. what is the highest level of income taxes you could pay to keep us in a free enterprise capital structure society? >> well, you know, i think it is hard to pick a

particular rate because it depend on the tax base and a lot of other things. however, you know, right now we're at 35% and we have no growth. a lot of people point to the clinton years, you know what, we raised taxes and economy grew. go back and look at the in those days. the economy had everything going in its favor. right now the economy has everything going against it. raising taxes now based on lodgic we could raise it back then the two things don't jibe. we're in completely different time frame. lori: so what do you think will happen in france? you've got to predict a mass exodus. what does that mean for places like london for instance? >> we're already seeing it. people are checking out they could quickly move from france to england or switzerland, belgium or luxembourg. they're trying to avoid the tax. we see that when states raise taxes. california has been driving productive people out for years. maryland is engaging in that. wealthy people pick up and move to reduce their tax burden. we'll see that in tax going forward. lori: what about the the

welfare state in france, they can't afford that? what happens to the poor people in france? >> we should be grateful to france for showing us folly of high taxes in great big welfare states. they can't afford to fund expanse sieve wait. they can't tax wealthy enough to make it work. of course it hurts the economy. comes reinforcing downward cycle. we could end up on that cycle here as well. lori: problems are compounding for europe and hopefully they won't ripple into the u.s. where a lot of people are fearful they already are. curtis thanks for your insights. >> thank you. melissa: identity thieves are using hidden electronics to steal user information from atm. this is scary story. phil keating joins us with more on this. >> hey there, good afternoon. atm skim something growing in frequency, 10% year-over-year. hitting all the major big cities and moving into the suburbs as well. it happens here at your atm this is the area where the

organized crime gangs focus on, the area where you slide the card in to read the magnetic stripe. it gets all your banking information. you see the fake sleeves. they're clever and simple. why they're costing banks in the u.s. more an a billion dollars a year. these false atm card sleeves fit on top of the real sleeve and read your card's magnetic stripe with all of your bank information. take a look at surveil yoons video after recent operation in florida. see the guy on the cell phone? he is lookout. once the coast is clear, criminal number two comes in, within 45 seconds stuck the false reader on and pinhole camera above it to record the pin number once the unknowing victim enters it. in a couple of day, dozens and dozens of victims the crooks can net 50 grand before the victims know it. >> low technology, low cost to get involved and high rewards on it. plus, cash is king.

where is easier place to get cash than at your atm. >> craig london is a recent victim but lucky for him he cut his losses early on after checking his bank account online on a saturday morning one withdrawal a $200. a minute later another withdrawal for $400. that's when he called police. >> i think anybody, everybody who uses an atm machine really needs to be very careful about what they're doing. first of all i don't want to get you ined at the atm anyways. here i was mugged and they didn't even use a gun. >> tyco integrated systems they have a anti-skimming device that goes inside the atms. for you the consumer, see if there is anything false that easily pops off. also, always cover your hand as you're entering your four digit pin number. without the four digit pin the crooks can't get your money. back to you. melissa: phil keating thank you so much for the story.

lori: you think my husband would buy atm fraud the reason for depleting the account? melissa: blame it on a thief? that is clever. that will only work once. lori: that is good story. news you need to know. we want to know why the dow made up one hundred points. as we do every 15 minutes we check the new york stock exchange. >> i feel a need to check my bank account now after this hit. i will check it out. the dow is almost flat, at the flat line, being down 100 points earlier today. the banking index is just ever so slightly in the green. so retail index looking good. drugs haven't come along just yet. we noted oil has gained momentum. and the dollar still very strong though. the vix, the fear index, to the upside. the dow right now 13,471 with a loss of just 15 points right now. want to take a look at some movers here. we're looking at walgreen's in particular. we did see walgreens coming under some scrutiny because

there were concerns about the customers and those being lost because they were having some disputes with express scripts. now some of those customers are coming back indeed but they did obviously see their fourth quarter net drop. and as a result the stock is down 1% right now. back to you. lori: thank you, nicole. melissa: so american airlines has been hitting some turbulence lately, canceling flights as it battles with its pilots and tries to exit out of bankruptcy. can the airline fly high again? up next airline analyst ray niedl on american's future and changes that could be coming to the industry, changes that could affect you. lori: i'll be listening. take a look at more winners and losers on wall street today. research in motion, the stock is getting a lot of chatter. shares are higher more than 6% today. cisco up 2 1/2%. cerner up. charles liked that one a couple days ago. up another 4%. back with more after this.

lori: corn prices jumping after the usda reported corn inventories at an eight-year low, no surprise after the devastating drought still continuing. sandra smith with details in the pits of the cme in today's trade. sandra. >> lori, i was chatting with one of the traders and said this is classic example of traders caught unawares. look at trading pit right now. still in the heat of the session, although corn lock limit up, 5% on the session. up 40 cents on the day and 40 cents on a $7.5 bushel of corn is a big move. that is lock limit. that is most they will allow

to rise in single trading session. what we got at the end of last year's crop here, the amount of supplies on hand were lower than expected. remember, we're the largest exporter of this grain in the world. we're having to shell out a lot of this stuff at a time when our crop here at home is drought stricken. so the corn prices still skyrocketing. i was tallying up with one of the traders. corn is up 17% this year. it is outperforming the stock market. that is why it is getting all the big institutional money flow it as we work into the last quarter of the year. back to you guys. lori: food inflation. there it is. sandra smith, thank you. melissa: labor battles are rippling through the airline industry. on top of american airlines problems with pilots, they alyst.d a contract offer irlines, labor problems seem to go hand in hand no matter what. this is an industry that

can't get out of from under this. start with american. what is the resolution there do you think? >> basically they have to restore contract negotiations and hopefully the union, the pilots union will come to the talks, which i think they will, needing to get a contract. the rank-and-file seem to want to do the merger with us airways but i think the priority for everybody in that union is to get a contract first. melissa: you mentioned us air. they're having problems of their own. they're struggling with their flight attendants, right? what is the resolution there? >> it is funny. us airways has agreements with all the american airline unions but are still some outstanding with their own unions, including pilots and flight attendants. melissa: is this par for the course with airlines? especially if you're an airline investor or is this something to get concerned about? >> no, it is a risk you have as an investor. the industry is very heavily unionized the employees are very well-skilled and very well-compensated and always

have potential labor problems. melissa: they can really gum up the works without questions. i guess the referees did a good job if you're watching "monday night football" but i guess with the airlines they can do subtle work stoppages and cause havoc. >> it is a service business. you have to serve the public. if you don't serve public they will go elsewhere. the plom i east are very important. melissa: at the same time i flown a lot recently. i never get on a plane where there is an empty seat. seems like the airlines have done a really good job squeezing out extra capacity. what you would say about the overall health of the airline industry now? >> it is strong. we may be heading into a recession, i don't know. melissa: yeah. >> it will be the first big test for the industry. they have lost money as an industry in every other recession. i think they restructured themselves and cost structure they can make through the next recession and still generate profit. >> who is the pick of the litter in the air line group and who would you avoid? >> i could would go with the niche carriers.

they're not really niche but specialized areas ever the country. more flexibility, lower costs. the management seems to have better labor relations. this is airlines like alaska air on the west coast, jetblue on east coast. you have a low cost product called spirit airlines the key thing with all these carriers, they have one thing in common. they're all growing, not shrinking and they're growing profitably. melissa: so that mean you would skip the big names? >> i would tend to stay away from the big names for the shorter term. longer term, with the industry restructuring, dealt tall is a powerhouse. united once they get their merger related problems out of the way is going to be a powerhouse. if american does their restructuring correctly they will be very strong as well. melissa: interesting. ray, thanks for coming on. we appreciate it. >> thank you. melissa: coming up tonight on "money" i go one-on-one with brian wesbury on france. uping its tax rate on its wealthiest individuals to 75%. my concern is that we are

next. if you look at democrats, president obama, looking at this, saying 75% and our wealthiest folks are only paying 35%. it is nothing. i don't know, i think a harbinger of some terrible things to come. >> absolutely, considering the fiscal cliff is etch proing. i know everybody is pretty confident or maybe taking for granted it is going to be resolved. but we're talking about these tax rates. melissa: right. lori: states are losing a lot of money really quick i too. coming up tracy byrnes and ashley webster are looking how bad a hit states could take and why some leaders say we should go over the cliff, rip off the bandaid, bitter pill. keep it here on fox business. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... a little bit more vanilla? this is great! [ male announcer ] at humana, we believe there's never been a better time to share your passions...

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>> dow made up 100 points. we had pretty disappointing u.s. economic news, but, tracy, and ashley, investors

are looking overseas. ashley: they are. spain went through the bank stress test. came out of it okay. that helped sentiment over here. but hey -- look it could have been a lot worse. another headline monday will turn things the other way i'm sure. for now it's positive. let's put it that way. thank you, ladies. tracy: i'm tracy byrnes. ashley: i'm ashley webster. stocks in the red for the day and the week, but guess what firmly in the green for the month. where do we go from here and how can you prepare your portfolio for a possible tax hike in the new year? find out what one strategist is telling his clients. tracy: also looming in the new year, the fiscal cliff. find out why some people say we need to just get it over with, go over the top and deal with the consequences. ashley: right over the top. and facebook is getting into the e-commerce business. allowing you to send real gifts to your virtual friends but the question is, will it be a gift for company shareholders? we'll be asking an analyst. tracy: don't get that virtual stuff. anyway, top of the hour. time for stocks as we do

every 15 minutes. nicole petallides on the floor of the new york stock exchange. nicole, we were just talking about it. spain kind of helping us back again today, huh? >> that's right. when we talk about spain again, spain again and that sometimes hits our markets but today we'll say it's spain again but in this case it is good news that the bank stress tests came in better-than-expected. they weren't as bad as they could have been. of course there are still banks that need to raise more capital and such but overall, it was pretty good news. so what you saw was that the dow came up off the lows. it almost hit that unchanged line. it was down over 100 points. we're looking at longer term charts here. this is a one-month chart. for the one-month we're up almost 3%. for the quarter, by the way today is not only the end of the month but the end of the quarter. for the quarter we're up 4 1/2%. even though we had a down week, we had a decent quarter. let's look at one name on the move, research in motion, the blackberry maker. they come out with quarterly

numbers. another quarterly loss. third straight quarterly loss. couple things for research in motion. off earlier gains. blackberry 10 is doing well. subscriber base grown to 80 million from 78 million. they are doing well with low end devices and building up the cash. back to you. tracy: i don't believe it. i don't believe anything today. i don't believe spain. i don't believe rim. i don't know, it is a friday thing. ashley: it is friday, you can believe that. there are only 94 days left until the bush-era tax cuts expire if nothing is done and investors are wondering how should they prepare their portfolios for their scenario? recollection macy, chief investment officer for wilmington trust investment advisors which by the way has $20 billion indmanagement, joins me now. rex, thank you for being here. what advice are you giving your clients with so much uncertainty out there especially about taxes? >> sure, let's start with

the simple advice. what we have more conviction in. if you've got stocks with capital gains that you're going to sell over the next few years, go ahead and sell them in 2012. enjoy the low 15% capital gains rate. don't take the risk that i will be paying 23 or 24% next year. even if rates don't go up you wouldn't have saved that much money by having a few dollars in your pocket for another 12 months or so. so capital gains, go ahead, get those out of the way. it is unusual. usually we talk about taking losses. now we're talking about taking gains. ashley: what about dividends? >> that is a much trickier question because right now if nothing happens, the rates on ordinary dividends go from 15%, for investor in the top bracket, it will be over 40%. ashley: ouch. >> but what we're suggesting is you hold on. nothing is certain. we don't expect the stocks themselves to suffer. that is an important point

because so much investors are pension plans, they're 401(k)s, they're in retirement funds, that we don't expect those investors to pay any attention to the expiration of the tax cuts and historically stocks have not moved in relationship to changes in taxes. so we don't expect the stocks to get hurt. ashley: right. >> but the value for the investor does make a difference. what we would suggest a wait-and-see attitude. if you get a dividend in the first or second quarter next year, higher rate even if it does materialize isn't going to make that big of a difference. if you like the dividend-paying stocks, you have today, we would recommend holding onto them for now. ashley: and, rex, do you get the sense most people think we'll not actually go every the fiscal cliff? as always something will get sorted out at the very last minute? >> the level of the market and when you look at stocks like lockheed martin, there is no evidence the market thinks we're going over the cliff. it seems almost pollyannaish

to me how benign the market is at this point. ashley: are we due for a correction then do you think? >> well, we think we're in for some volatility especially as we approach the fiscal cliff. what could very well happen come november that's some of the companies particularly defense companies, start sending out notices to their employees and to about plant closing and layoffs. if that happens we think there will be a lot of chatter, a lot of back and forth. that could create some jitters. but for right now, we don't see it, and i will point out that we've had the debt ceiling increased without political rancor that we're used to or maybe expecting. so right now, the market is telling us that it all looks good. ashley: all looks good. hey, look through rose tinted glasses as they say. thanks so much for joining us. we appreciate it. >> thank you, ashley. ashley: thank you. tracy: well, f stock members

which is the financial stability oversight council, i think we ask rich edson about that, they will discuss a number of topics on domestic and global markets and voted approval on the 2013 budget. rich edson has more on that. am i right about that? >> you're right. we have the acronym. we have a lot of acronym tests here in washington. analysts expected the nation's top regulators to decide and reveal which large non-bank financial companies they would expect more regulation and oversight. they did not. financial stability and oversight council, fsoc, they will take further analysis of the these companies before voting on further designations. they do not intend to publicly announce the name of any non-bank financial company under evaluation before a final designation of such company. in other words, hang out and wait. a spokesperson says the council discussed

developments in global markets and europe and asked staff members to prepare recommendations on money market mutual funds for their november meeting. guys? tracy: all right. we also though got information about who's tapping the so-called discount window, right? who is basically going to the fed for loans. >> right. we got this info for the third quarter of 2010. we have a bank in maine requesting $70 million. one in missouri needed 60 million. much different than the tens of billions of loans that europeans banks borrowed from the fed discount window during the height of the financial crisis. that information fox business reported earlier last year. we sued the fed to get it. this morning's detail are all a part of dodd-frank law and this is the first release under that law. shows all discount window transactions in the irk this of 2010 and highlights were really that. a handful of smaller banks needing a few eight figure loans during that quarter. ashley: don't we all. that is a good thing. >> i take a seven figure. can't be greedy about it.

tracy: rich edson, thank you very much. have a great weekend. >> you too. ashley: hope there are no tests tomorrow on fsoc. got lost a little bit in the middle. tracy: all these acronyms, i can't keep up. ashley: markets trying to end the week in the green. coming up next charles payne with a stock pick to help you end the week with future profits in mind. tracy: as we do every day at this time, see how oil is trading up only 20 cents a barrel. $92.05 a barrel. [ male announcer ] let's say you need to take care of legal matters.

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ashley: it is time to make money with charles payne. this hour he has a company that provides electronic health record services to doctors and hospitals. should be a lot of business for that. >> there should be. a couple weeks ago i talked about cerner at the 1:00 hour. their main rival is athena health. both are higher today. we know how antiquated these medical record are. i don't know any hospital really up to snuff when it comes to this kind of thing. it is a gigantic marketplace. no matter who wins re-election this is area that will go up. obviously if it is president obama i think it will go up even more. this stock looks pretty good. the company has beaten three of the last four quarters. 30% of the stock is short. the street doesn't like this one as much as cerner.

maybe inconsistencies in the past. ashley: income perhaps? >> execution for the most part. doesn't necessarily get the respect. ceo used to come on a lot, "money for breakfast" and things like that. i like that. they could have a major short squeeze. if the stock moves up i think will hit a double top at 97. i think that is given. if it holds there you it could break out to 108, $109 a share. that could start to squeeze the shorts. i think this is good business model. it is more risky than cerner but has more potential. ashley: it has application you can click into and use. >> yeah. ashley: surely in this day and age can be of value. >> we know medical record, if you've been to a hospital it is ridiculous. they ask you the same questions over and over again. nobody knows anything. it is scary actually to be quite honest with you. some of the numbers i shared with lori and melissa last name, just the amount of people who die every year

from inadequate records would be enough to think this would be a business everybody would be pushing for. ashley: you hope. >> i hope it was quasi-not too morbid. ashley: thank you, charles. >> you got it. tracy: all right, well starbucks continues to expand, announcing it will open its first shop in india by the end of october. starbucks shops in india are part of a 50/50 joint venture with tata joint vent youtures. i thought they made cars. ashley: they do. tracy: they will feature coffee sources locally through an agreement with tata coffee. it will be in a upscale neighborhood in mumbai. they aim to open 50 starbucks outlets in india. wal-mart is opening retail shops in india too. >> he is no joke. ashley: call it mr. tata.

that's for sure. as we do every 15 minutes, let's check the tata markets now on the floor of the new york stock exchange. nicole, well, talking of business, tough day for mcdonald's. >> i'm not going to say tata, right? fine. let's look at mcdonald's. dow component mcdonald's we're watching very closely. it has come under some pressure. that's because janney capital cut mcdonald's to a neutral. some concerns they had in the u.s. actually. the sales they say for first couple weeks of september happened to be when they looked at comp same-store sales why quite weak. it is weakest month of the year. janney and some other analysts are looking forward to future estimates saying you know what? we'll have to reduce those estimates. the other factor is a strong dollar which will affect them overall globe globally we're also taking a look at other fast-food companies, yum! brands. this goes into the china relp, right? china seeing weakness. yum! brands has kfc over

there. that is seeing weakness. burger king worldwide went public and private and now is back. 2. to the downside. back to you. ashley: thinking double whopper right there. thank you very much, nicole. back in 15 minutes. i'm hungry. tracy: the clock continues to tick away to the fiscal cliff. some state leaders say we should let the clock run out, go over the cliff. ashley: we'll see how the u.s. dollar is moving right now against some of the world currencies. well, the euro against the dollar down, the pound down. they're all down. the dollar is stronger. we'll be right back. ñ

>> at 20 minutes past the hour i'm arthel neville with your fox news minute. the man behind the video that sparked protests in the middle east is behind bars in los angeles. he told a judge his real name is mark youcef. he was arrested from a probation violation because after check fraud. the judge considered him a flight risk. marchers took to the street today in italy

causing the closure of an area around the coliseum. italy's two largest unions led a march of 30,000 people that clogged streets and snarled traffic during the morning rush hour. the real nfl referees went back to work last night now that the lockout is over. the officials returned to the field for the game between the baltimore ravens and cleveland browns and were greeted by a standing ovation from the fans. those are news headlines in the fox business network. get you back to tracy and ashley. tracy: arthel neville. thank you very much. ashley: underfunded pensions, rising health care cost, oh, yeah, the fiscal cliff, just some challenges states are grappling with right now. joining us for a look at the fiscal health of the states is david atkins, ceo of the council of state governments. david, thanks for joining us. my question to you is, do you get the sense there is some complacency out there about this fiscal cliff? oh, they will get it done in the end and states are not really taking the necessary

preparations? >> that's right, ashley. certainly from the states perspective we get the feeling the federal government is involved in one of those nightmares many had in college and wake up on the day of the test and been enrolled in a course and never even attended it. there is sense of foreboding and great sense of complacency at the federal government how we create even a process to deal with this perfect storm of so many issues that remain unresolved and to have an allic time bomb ticking that goes off on january 2nd. tracy: but the biggest issue really are the pensions, right? we have underfunded pensions across this country, at the federal level, at the state level. quite frankly private and public. how can they possibly fix that and save the states at the same time? >> well, it's a big issue. many states are grappling with it. it is estimated anywhere from one trillion to $3 trillion of unfunded liability exists in the state pension programs for

public employees across the nation. a additional $1 trillion unfunded liability exists in additional benefits like health care programs that states provide to retirees. so it is a huge issue. many states used consensus based process which they reached across the aisle, republicans, democrats, coming together, legislators and executive branch officials working together that will come up with a program to place the state pension plan on a road to viability but the sustainability of the current structure of state pension plans, ranks right up there with health care costs as the number two fiscal concerns for the states. ashley: david, what, well, what's the biggest chunk of federal money that goes to the states? what is the biggest piece of the pie? >> far and away health care. medicaid expenditures have been going up on average over 7% over the last decade. medicaid expenditures for the states have increased 100%. so it is a cancer growing on

the budgets of the straits. in fact it is now eclipse public education as the number one source of expenditures for state budgets. it is incredible how it continues to grow. over the next five years based on how much state revenues are predicted to grow and how much health care expenditures are predicted to grow, we anticipate within five years there will be a $22 billion gap between revenue growth and health care expenditure growth. tracy: but -- >> annually. tracy: but if we go over this fiscal cliff the states are going to get hammered even more. defense spending will be cut. states like virginia get hammered right? still some people are saying let us go over the cliff. let the federal government learn their lesson. how come? >> well there's a great sense among some state leaders that because many of the funding programs that are the primary source of revenue from the federal government that flow to the states are exempted from the sequester requirements. however sequester alone, those automatic cuts that go

into place on january 2nd, aren't the only elements of this fiscal cliff. the fact that congress hasn't reauthorized temporary aid to needy families the welfare program, it expires on september 30th. the lame-duck congress will have to make a decision when the new fiscal year for the federal government starts october 1st, that funding stream. alternative minimum tax that expired last year. bush tax cuts that expire on january 2nd. do we increase withholding or not? how do we administratively administrate policies that make sense? what states want in regard to relationship with the federal government is exactly what businesses want with the states. they want predictability, sustainability and stability and we have none of that in this chaotic climate of policy making where congress is comfortable to kick the can down the road or ignore the problem all the together. ashley: well-put.

thank you so much. david atkins, council of state. gos. thank you for joining us. >> ashley, tracy, thank you. tracy: we're in no-man's land. ashley: exactly. tracy: apple is really, really sorry about its new mac apps. we have more on the open apology from ceo tim cook. ashley: no apologies here. let's look at some of today's winders and losers. accenture having a good day up 7%. coach not bad either, up 3.25%. we'll be right back. copd makes it hard to breathe,

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will -- speed to another lender in the making. analysts are not sure it is worth the investment. find out what cbo tim cook to think he is sorry for only a week after the release of the iphone5. the ceo of sports marketing joins us with a look at some of the best investment in sports memorabilia. ashley: let's get a check on the market as we do every quarter of the hour. nicole petallides. nicole: we are talking about the market overall. the politics. this is the end of the quarter. when you are talking about disconnect, what are you talking about? >> yesterday was a perfect example. we had a slew of macro data.

all that tells you if where is the connection. nicole: to your point, just to make this point, our economic news really is not that great. we have been up every several months with the exception of may. >> what is frustrating is the market is here unofficially. if bernanke steps back or he says we will just watch, you see how the market goes a temper tantrum. if it does not get what it wants god it will worldwide over. nicole: i have ten seconds for a outlook. >> i think we will end here flat like. october will be a very volatile

month. nicole: october is a tough one. we are happy that you are able to join us on the fox business network. back to you. ashley: no temper tantrums are allowed. the trade battles between china and the u.s. heating up. -- order to divest its interest and for wind farms because they are in the vicinity of the u.s. naval places. tracy: how about this? tim cook writing a letter to customers saying he is sorry. customer frustration over the new mapping app.

>> i am not so sure i would call a customer a whiny little baby. you have tim cook saying he is sorry. they are showing that they put customers ahead even though they did flop on the launch of their maps. it is kind of like, yeah, we messed up. we were trying to do the something even better than what was out there. we wanted to provide our customers even better features. in order to do so, we headed to create a new version from the ground up. what do you do if you have an iphone5, well, they will let you actually download someone else's map app onto your iphone. how is that? do you think that committed competitors would let you do

that? they are directing their customers to potentially competitors. for instance, go to the app store to download mapquest or google or nokia maps. it is still kind of difficult to get google maps onto the iphone. there is actually a place where you can download other software for maps other than the apple version until beckett perfected. tracy: maybe i am not going anywhere interesting. >> i got the iphone5. out-of-the-box it did not work. the map function worked great. [ talking over each other ] tracy: adam shapiro.

i don't go anywhere interesting, that is my problem. ashley: facebook ready to sell gift. real ones, not the virtual teddy bears that people signed. is this a good or not so good thing for investors? we will find out next. tracy: let's take a look at the ten and 30 year treasuries. your 30 year only down 1%. we will be right back. ♪

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♪ >> i am lori rothman with your fox business brief. wall street continues to trade off of session lows. things not as bad as some people feared. the dow is down 50 points. americans were driven to open their wallets more in august. personal spending rose 1.5%, marking the biggest jump since february. dollar general is back in the news. unveiling a discount ahead of the holiday shopping season. 10% off for purchases of $75 or more. more namebrand items are included. discount start saturday. mark their calendars.

that is the latest from the fox business network. giving you the power to prosper. ♪

ashley: facebook shares getting a nice boost today. facebook gives allows users to send real gift to each other through the site. will the move of peace investors over the long-term? joining me now is scott kessler. what do you think, scott? does this move make sense to facebook? >> yes, it does ensure. we have been saying for the last several months that facebook really need to do more. not only to monetize it user base, but also to diversify into

more categories with significant promise and opportunity. we think commerce is one of those, we highlighted that a couple months ago. we think this is definitely the right direction to move into. ashley: from the way this works, facebook will come as far as i can see, and unspecified cuts of each transaction. >> we are not sure what the business model will be. the product has not launched and the company has not officially talked about it. they will adopt a model similar to ebay and may be differentiated from amazon. we expect them to be more of a marketplace where you will see folks purchasing items, gift that they will obviously give to other folks, you can see the model being predicated on everything from listings to participation in a program to even transaction fees. a lot of different ways where they fit can when.

ashley: to think they are in a buying mode? >> i would say not necessarily, but you have to keep in mind that the way we expect something like this to work is, sure, people could have in mind that they want to send their facebook friend a gift and this is obviously a very easy way to go about doing that if you know that a particular merchant may be available. in addition, you may see the very same margins that are providing products that are available for purchase and gifting. also, advertising as well. my point is, they may not be when they get to this site, but they may be after they'd see related advertising. ashley: would you trust facebook with credit card details? >> i think i would. it would not surprise me in addition if they incorporate another payment mechanisms.

they have worked in the past with paypal. it would not surprise me if they made that an option as well. apple has people's credit card numbers. google has people's credit card numbers. a lot of companies have credit card numbers. we see more and more infiltration of bank websites. really, you are not as protected as you may think. on facebook you will be more protected than a lot of places on the internet. ashley: thank you for joining us. scott kessler. tracy: breaking news. oil closing up $0.34 at $92.19 a barrel. crude futures -- a whopping $70 today filled my tank. your taxpayer dollars could be funding a solar panel company.

dan springer joins us now from portland, oregon. the ceo would not answer the tough questions today, would he? >> that is right, tracy. tim harris refused to answer any of our questions yesterday at the big grand opening here in portland. we wanted to ask him why his company would be a better gamble then solyndra and all the others. they are putting 197 login dollars into his company. it closed last year right around the same time as solyndra was going bankrupt. the companies are very similar. they use the same materials. the panels are less expensive, or less efficient and more expensive than it imports from china. still, environmental groups say they are optimistic. >> it will be a lot of different

companies, many of which will fail, but the key one is we will succeed. >> solyndra has been a huge embarrassment for the administration, but it is far from the only green jobs failure. in other solar panel in colorado got $70 million from taxpayers went bankrupt also. two electric car companies have trouble laying off people did solar power manufacturing has been extremely troubled some. silicon is cheaper than ever. they are a big bargain compared to solar. >> it is questionable at this point. it is uncertain if solar power will be able to produce upscale. it is still risky at this point.

>> it is not just federal taxpayers who play here. state and local government here have also put in $56 million. a lot of taxpayer money hoping this company makes it. a lot of skepticism. tracy: i can see why. dan springer, thank you very much. ashley: how long have we been on the cusp of a resolution when it comes to solar power. tracy: you might as well just pulled down ten-point this point. [laughter] it is quarter till the hour. five for stocks now as we do every 15 minutes. typical petallides on the floor of the new york stock exchange. nicole: they are trying to lure in customers that shop within the shops. this is their new way to brand and try to compete with one

another. today we are focusing on macy's. finish line, when you talk about running sneakers and such, they are talking about having a finish line within the stored of macy's. this will begin in the spring of 2013. of coarse, sneaker sales, the ceo of finish line talk about how they are doing well with the running sneakers and such. this is a a way macy's wants to differentiate itself. when you think of getting your nikes or adidas, are you going to macy's to accept now, maybe you may. tracy: i think it is bazaar. ashley: you can have a store within a store within a store. tracy: i get to the point where i just leave the store because i am so confused. ashley: thank you, nicole.

what is hot in sports memorabilia? what should you buy now? the ceo of steinmetz sports. he will be right here in the studio. tracy: let's take a look at some of the winners and losers on the nasdaq did research in motion up today. ♪ looking for dividend-paying stocks for your portfolio? with the fidelity stock screener, you can try strategies from independent experts and see wh criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity.

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♪ ashley: guess what, coal prices jumping. up above 1 billion bushels.

sandra smith has the details. sandra. sandra: i will get right to our guest. this is an unbelievable day for these markets. i want to walk back over to the corn pit. we will see the markets opened even higher on monday. >> the potential is there. you are trading about six cents above. no dow about it, they did a great job in this report. there was some concern about a billion bushels harvested. they came out with a 988 billion-bushel estimate. very bullish. sandra: full of action. what is the indication about food prices? >> we thought all along we would have strong quarter prices for at least six months here.

we were very aggressive for buying corn. we will probably get up to eight dollars in this rally and then maybe fall for a little bit. sandra: one thing to take note, this is affecting agricultural stock today. they are soaring on these higher prices today. corn is outperforming the stock market. corn is up 17%. do you think this will bring more investor attention and dollars to this market? >> no doubt about it. fertilizer companies should benefit. down the road, six to 12 months, you could see a hit on the stock. sandra: monsanto -- all of these companies in the stock market affected by the very things you see trading in the agriculture room at the cme today.

ashley: sandra, thank you so much. appreciate it. tracy: managing to create a sports, marketing and memorabilia place joining us now brandon steiner. author of "you have to have balls" and i am not making this up. >> the book is not a typical sports book. it is kind of a "how to" book. that was my mother's favorite line. when she saw somebody that was boring part when the cut that would really drive my mother crazy. ashley: somehow you go from delivering the newspaper and you fall into this sports

memorabilia world. >> i think it goes back to when i was a kid. i was really always thinking, what else. i had to make more money. i was thinking, this vp was running down the hallway with all the wrong stuff. i said next time i did this, i said i will bring the stuff. as i was doing the appearances, i would bring this memorabilia with me. tracy: there is a lot of people who are hesitant about putting money in the stock market. can i make money buying sports memorabilia? >> i think if you are smart, you can. it is not something i would highly recommend. the vintage stuff is going through the roof. it is phenomenal.

luke gehrig -- that kind of stuff is through the roof. tracy: is it worth buying something? andy pettitte autographed baseball -- worth buying something like that? >> i am not sure where it will go as far as appreciation. i collect a lot of mariano rivera. i think he is the greatest pitcher of all times. tracy: he signed my sons baseball glove, actually. a really nice guy. is it baseball that sells the most? >> i have seen boxing. i think baseball is the biggest. and then the football is pretty strong. it kind of comes and goes. tracy: eli manning autographed

duke football. >> first of all, eli is one of my favorite players of all time. he is one of those guys that seems to be on his way to become one of the best of all-time. tracy: check out the website. i love it. >> i hope you enjoy the book. [ talking over each other ] ashley: great stuff. liz claman taking us to the last hour. ♪ want to try to crack it? yeah, that's the way to do it! now we need a little bit more... a little bit more vanilla? this is great! [ male announcer ] at humana, we believe there's never been a better time to share your passions... because the results... are you having fun doing this? yeah.

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it is the last hour of trading. "countdown to the closing bell" starts right now. it is the last trading day in september. what is the market down after a pretty solid date yesterday? we have a key index in the chicago area. it fell into negative territory in september for the first time in three years. the pmi in chicago. we have already got vacant this would happen. we have contraction pretty much across the board for regional manufacturing did that is the new york and dallas index. spain helping u.s. stocks climbed back from session lows after spanish thanks announced they had passed, for the most part, the stress test. they only needed $77 billion of new capital.